Odessa-based Standard Sales Company L.P. has agreed to purchase longtime Wichita Falls business Falls Distributing, the companies announced in a news release Friday.

Financial terms of the agreement have not been released and transfer of ownership should happen by Sept. 1. Falls Distributing will rebrand to Standard Sales Company once the transaction is complete. The local distribution location will be locally managed.

“It has been our privilege to be an integral part of the Wichita Falls community for 56 years,” said Reno Gustafson, president of Falls Distributing. “Standard sales will bring strong leadership to our community and will carry on the rich traditions Falls Distributing has been part of since 1961.

“Our employees will continue to provide excellent service as they, and our customers, are welcomed into the Standard Sales Family.”

Standard Sales was founded in 1952 by Ted Roden. According to the company’s website, Roden moved to Odessa in 1947 to help his brother, Tom “Pinkie” Roden, with his retail package store. Ted had different plans as he set his sights on becoming the sole distributor for Anheiser-Busch beer in the West Texas town. Some six decades later, the distributor now has operating branches in the three states including Texas, Mississippi and Kentucky.

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Falls Distributing Company located on Tarry Street in Wichita Falls.(Photo: CHRISTOPHER WALKER/TIMES RECORD NEWS)

The recent move by Standard Sales will add 13 counties along the Texas-Oklahoma border, making it reach now total 54 counties in Texas.

Standard Sales employees more than 500 people.

“We are extremely excited to have an opportunity to purchase Falls Distributing Company whose reputation of quality service is unsurpassed,” said Standard Sales President Lanny Layman. “Our companies share many of the same philosophies and values.”

Falls Distributing was founded in 1961 in Wichita Falls and serves 13 counties in a 12,300-square-mile region.